Looking to diversify beyond BBNIX? The mutual funds below have the lowest correlation with BBNIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from BBNIX.
Best Diversifiers for BBNIX
2 mutual funds have low correlation with BBNIX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.10, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.10 | 0.07 | 0.07 | 96 | Semiconductors, Technology Equities | BBNIX vs FSELX | |
| Fidelity Select Technology Portfolio | 0.13 | 0.09 | 0.08 | 89 | Technology Equities | BBNIX vs FSPTX | |
| Fidelity Capital & Income Fund | 0.32 | 0.35 | 0.33 | 91 | High Yield Bonds | BBNIX vs FAGIX | |
| Fidelity 500 Index Fund | 0.32 | 0.20 | 0.14 | 66 | S&P 500 | BBNIX vs FXAIX | |
| Vanguard Total International Stock Index Fund Inst... | 0.38 | 0.28 | 0.20 | 64 | Foreign Large Cap Equities, Large Cap Blend Equities | BBNIX vs VTSNX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BBNIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BBNIX and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.21, up from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.21 | 0.09 | 0.10 | 52 | Consumer Cyclical |
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